18-Unit Multifamily Sells for $2.1M in Longmont
Longmont, CO — Unique Apartment Group (UAG), multifamily division of Unique Properties, Inc., recently brokered the sale of an 18-unit multifamily asset located at 513 and 521 Terry Street in Longmont, Colorado. The property sold for $2,150,000 or $119,444 per unit. UAG represented the buyer and the transaction closed on August 29, 2016.
513 and 521 Terry Street are two neighboring buildings that are centrally located within walking distance to Main Street in Old Town Longmont. 513 Terry Street consists of six, one bedroom units averaging 528 square feet and two, two bedroom units averaging 720 square feet. 521 Terry Street has four, two bedroom units averaging 660 square feet and six, two bedroom units averaging 873 square feet. The Buyer was attracted to the location and popularity of Northern Colorado multifamily market. Over the next few years, the buyer intends to renovate the existing units and add a few more.
Image courtesy of UAG